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U.S. industrial production drops 0.4%
By The Associated Press
This article was published November 16, 2012 at 8:32 a.m.
WASHINGTON — Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses.
The Federal Reserve said Friday that industrial output fell 0.4 percent last month, after a 0.2 percent gain in September.
Excluding the storm’s impact, production at the nation’s factories, mines and utilities would have been up about 0.6 percent.
Factory output, the most important component, fell 0.9 percent. It would have been unchanged without the storm.
Machinery production fell 1.9 percent, while production of electrical equipment, appliances and components declined 1.4 percent.
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